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Feb 5, 2013
02/13
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republicans acted in that direction by putting off the debt ceiling a couple of months until may as hampton mentioned a minute ago. the president is going to propose the same thing on the budget sequester but not, according to a white house official, laying out his own plan. he's going to call on congress to do that and expected response from republicans, tyler, is, hey, mr. president, where are your cuts, we want to see them. >> john harwood, thank you very much. once again you will see the president's address live right here on "power lunch" in just a few moments. before that occurs, we have a triple digit advance. the market added to advances a few moments ago when we got budget figures. the dow up 109 points. the nasdaq up 34 and the s&p 500 is up 14 points. more on the trading action right here from bob pisani. he joins me on the floor of the nyse. it's almost like yesterday didn't happen. >> the important thing is, i know it doesn't seem terribly exciting but we are 14,000, we're a couple of points from a historic high from the dow jones industrial. we've been up a couple points throu
republicans acted in that direction by putting off the debt ceiling a couple of months until may as hampton mentioned a minute ago. the president is going to propose the same thing on the budget sequester but not, according to a white house official, laying out his own plan. he's going to call on congress to do that and expected response from republicans, tyler, is, hey, mr. president, where are your cuts, we want to see them. >> john harwood, thank you very much. once again you will see...
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Feb 11, 2013
02/13
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' fangs with respect to the debt ceiling. that's probably the big risk that the market was worried about. >> you made recent changes to your 2013 allocation strategy. some of them are interesting. high volatility u.s. large caps and micro cap stocks. it would seem you're increasing the beta place. when you say u.s. large cap volatile stocks, what do you mean by that? >> well, we believe that there's an evolution in the asset classes that investors are going to be tapping into in the next decade. you know, if you look back over the last 20 years, people spent a lot of time arguing, what was the value stock, what was a growth stock. and a lot of times it was in the eye of the beholder. volatility is a much more objective mesh yasure of what a stock is. you can do very good long term, 80 and 90-year analysis of what this asset class means. and right now, we show high volatility stocks have been beaten down very, very much in the rally, relative to low volatility, sort of bond proxy stocks. that suggests to us that they're one of
' fangs with respect to the debt ceiling. that's probably the big risk that the market was worried about. >> you made recent changes to your 2013 allocation strategy. some of them are interesting. high volatility u.s. large caps and micro cap stocks. it would seem you're increasing the beta place. when you say u.s. large cap volatile stocks, what do you mean by that? >> well, we believe that there's an evolution in the asset classes that investors are going to be tapping into in the...
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Feb 6, 2013
02/13
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if we bump into the national debt ceiling and by the way the good news is the republicans are talking more and more like this is not going to happen. but if we do, we have to go to a balance budget in a minute. can't borrow anymore. we've got a deficit that's, let's just call it morning friends a trillion. the c.b.o. estimate was a little bit below finally. but around the neighborhood of a trillion. that's 12 times 85. on top of that, you will... you have the danger of kicking off a worldwide financial panic as people start worrying about, well, is the united states going to default on its debt? if it comes down to paying social security payments or the interest on the debt, are we so sure that america will cut the social security payments and pay the interest on the debt? and a whole bunch of questions like that that we don't want anybody thinking about. we always want people thinking america is going to pay its obligations all of them. all of them. >> charlie: and america is. and we always have. i believe we will. but that's why i'm so worried about even if it's a small probability
if we bump into the national debt ceiling and by the way the good news is the republicans are talking more and more like this is not going to happen. but if we do, we have to go to a balance budget in a minute. can't borrow anymore. we've got a deficit that's, let's just call it morning friends a trillion. the c.b.o. estimate was a little bit below finally. but around the neighborhood of a trillion. that's 12 times 85. on top of that, you will... you have the danger of kicking off a worldwide...
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Feb 8, 2013
02/13
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it's actually worked pretty good effect thus far on things like the fiscal cliff and debt ceiling. republicans will try to draw a line somewhere. i'm not sure why yet. >> they thought they could draw it on national security with chuck hagel, and we've seen in the last 48 hours the president picked up the phone and he cauldron widen. he hasn't called too many senators too often, even in his own party. he cauldron widen because they had a real obstacle, and he knew that his cia nominee, his close friend, someone he is really eager to have confirmed john brennan, was in trouble going to that hearing. now not so much trouble. >> not so much trouble. these hearings are always as much about the -- using the moment as a lever to dislodge things that congress wants as they are about the nominee himself. i don't think there were a lot of questions about john brennan's kwaul ficks for the job. if i might say to live township the transparency that's been happy to profess. can i go back to the state of the union? i want to add a little bit of a note of caution to all this presidential huffing
it's actually worked pretty good effect thus far on things like the fiscal cliff and debt ceiling. republicans will try to draw a line somewhere. i'm not sure why yet. >> they thought they could draw it on national security with chuck hagel, and we've seen in the last 48 hours the president picked up the phone and he cauldron widen. he hasn't called too many senators too often, even in his own party. he cauldron widen because they had a real obstacle, and he knew that his cia nominee, his...
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Feb 12, 2013
02/13
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you're saying now, the debt ceiling showdown, you had a lot of republicans, leadership particularly who walked into this mess where they actually had their rank and file to do a debt default. they needed some way, any way out of it. so what the white house, the democrats put in front of them was the committee, the sequester, they were so happy to have any kind of lifeline, and john boehner comes out, pretends it is a victory, 98%, keeping the members in line. now here it is, a ticking time bomb for republicans, a year, year and a half, they're realizing, wait a minute, we don't have much leverage with the sequester after all. >> but the thing is, boehner did get 98% of what he wanted if you believe that he really wants spending cuts. >> right, exactly, but he doesn't want any spending cuts. he wants spending cuts in very specific programs. >> none in defense. >> not a penny. >> that is the main area they want to avoid, which is exactly why the president pushed to put the spending cuts in. they, as you point out, made a huge strategic error. they had much more power, much more momentum b
you're saying now, the debt ceiling showdown, you had a lot of republicans, leadership particularly who walked into this mess where they actually had their rank and file to do a debt default. they needed some way, any way out of it. so what the white house, the democrats put in front of them was the committee, the sequester, they were so happy to have any kind of lifeline, and john boehner comes out, pretends it is a victory, 98%, keeping the members in line. now here it is, a ticking time bomb...
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Feb 5, 2013
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ceiling debate of 2011. republicans say it is now time for the president to do something. >> this week, i'm pleased to join my leadership in putting forward the require a plan act that will say to the president two specific things. put a budget in place that balances with a continue-year period of time, but if you don't, tell us when it does. tell us when your plan balances. families and businesses across the great nation must work on a balanced budget. they can't borrow and spend as far as the eye can see. this president, it's time for him to step up, put forward a balanced budget or tell us when his budget will balance. >> for more on what we expect to hear from the president, we want to bring in my colleague and friend, john king in washington. john we know the president will try to kick the can forward here, talk about the need for revenue, as well as spending cuts but not deep cuts that everybody's concerned. what do we expect? >> a familiar haunt for both of us, the white house briefing room. using the
ceiling debate of 2011. republicans say it is now time for the president to do something. >> this week, i'm pleased to join my leadership in putting forward the require a plan act that will say to the president two specific things. put a budget in place that balances with a continue-year period of time, but if you don't, tell us when it does. tell us when your plan balances. families and businesses across the great nation must work on a balanced budget. they can't borrow and spend as far...
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Feb 5, 2013
02/13
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to put off the table the debt ceiling because they don't want to accuse of causing a debt default. they postpone it. they're going to continue the current levels so they're not going to be accused of shutting down the government. >> by the way, is that going to go on for three months or actually put it off for a year or two? >> they're going to do it every three months and every three months postpone it so that you know, the democrats on a short leash. i don't think they're going to try to default and nobody wants that. but they think that the democrats had all the leverage in fiscal cliff because of taxes. i think this time around it's the spending cuts automatic and they want to play hardball and there will be a game of chicken. we'll see which side blinks. >> what's your sense on employment? what's your projection in terms of where we are on the unemployment picture 12 months out? >> i think there will be a slow reduction of the employment rate because we're going to create something between 150,000 and 200,000 jobs essentially per month. >> that's going to be consistent? >> ups
to put off the table the debt ceiling because they don't want to accuse of causing a debt default. they postpone it. they're going to continue the current levels so they're not going to be accused of shutting down the government. >> by the way, is that going to go on for three months or actually put it off for a year or two? >> they're going to do it every three months and every three months postpone it so that you know, the democrats on a short leash. i don't think they're going to...
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Feb 5, 2013
02/13
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has signed into law the government raising the debt creole creole -- debt ceiling. house republicans are calling out president obama for missing an official deadline on monday. by law the president is required to deliver his budget for the upcoming fiscal year to capitol hill. this is the fourth time in five years that simply did not happen. and house speaker john boehner is pointing fingers. >> going to be late. some reports say it could be as long as a month late. i think that's too bad. our economy could use some presidential leadership right now. >> republicans plan to hold a vote today on the new measure to drive attention to the missed deadline. the white house isn't saying when the 2014 spending plan is coming out. that is very unusual. the buzz is mid- to late march at this point which is pretty much unheard of. you do not see budgets delayed quite this long. you have to go back to the reagan era to find that kind of delay. >> any reason what's the holdup? >> this is all political. we have the sequestration set to hit in march but what's interesting is that
has signed into law the government raising the debt creole creole -- debt ceiling. house republicans are calling out president obama for missing an official deadline on monday. by law the president is required to deliver his budget for the upcoming fiscal year to capitol hill. this is the fourth time in five years that simply did not happen. and house speaker john boehner is pointing fingers. >> going to be late. some reports say it could be as long as a month late. i think that's too...
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the guy who helped craft the debt ceiling plan. when he puts out that budget that is the document republicans have to run on the next two years because it has severe spending cuts on the domestic side because they have to balance the budget in ten years, a mighty task because they don't want to raise taxes. >> he has no interest in the sheer grind of campaigning. it's hard to see him having what it takes to run for president in 2016. is that even in his mind? is that a possibility for him? >> i don't think he's ever rule it out having been the veep last time and having national statutostature and i do think you have to wapt badly and willing to go for two years that state to state, talking to folks at the grassroots and i don't think he really likes that. likes the idea of spending some time with his family and work the halls of congress. the next two years are about austerity for the republican party. that would be really tough to run for president trying to partially privatize medicare and cut domestic spending across the board.
the guy who helped craft the debt ceiling plan. when he puts out that budget that is the document republicans have to run on the next two years because it has severe spending cuts on the domestic side because they have to balance the budget in ten years, a mighty task because they don't want to raise taxes. >> he has no interest in the sheer grind of campaigning. it's hard to see him having what it takes to run for president in 2016. is that even in his mind? is that a possibility for...
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Feb 6, 2013
02/13
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the republicans said -- >> the debt ceiling. >> -- and wall street came in and said, yes, you are. and now on immigration reform the president is appealing to the people who understand what responsible immigration reform can mean for business and the economy. he's actually not getting democrats to beat the republicans. he's getting republicans to beat the republicans. it's a great strategy. >> what do you make of it, michael, from the other side? jimmy carter was accused of having too many balls in the air when he was president. this time the president wants to throw a lot at the republicans and keep them off guard. >> it reminds me of 2009 all over again. instead of focusing on the paramount issue that every american is still facing, the jobs, the economy -- >> what's the republican job program? >> it's not about the republican job -- >> you just brought it up. what's your party's program? >> you're asking about the president, let me address the president. didn't ask about the republicans. you asked me about the president. i'm telling what you the president is doing. my analysis o
the republicans said -- >> the debt ceiling. >> -- and wall street came in and said, yes, you are. and now on immigration reform the president is appealing to the people who understand what responsible immigration reform can mean for business and the economy. he's actually not getting democrats to beat the republicans. he's getting republicans to beat the republicans. it's a great strategy. >> what do you make of it, michael, from the other side? jimmy carter was accused of...
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Feb 9, 2013
02/13
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move them debt ceiling debate until may 18. you have these self-imposed economic wounds, and we really should be dealing with them all at at once in a comprehensive manner. if we cannot deal with it for 10 years, deal with it for the remainder of this fiscal year, and that is what the house democratic alternative did. we would replace with the -- sequester with deficit reduction achieved over a longer time. >> watch the entire interview sunday at 10:00 a.m. eastern and again later at 6:00 p.m. on c- span. now, douglas emmett dorf, director of the congressional budget office. this is just over one hour. >> thank you all for coming. i am the director of the congressional budget office. cbo just released its outlook for the federal budget and the economy over the next decade. i would like to tell you a little about it, and then my colleagues and i will be happy to take your questions. our analysis shows that the united states continues to face very large economic and budget challenges. under current law, we expect the unemployment
move them debt ceiling debate until may 18. you have these self-imposed economic wounds, and we really should be dealing with them all at at once in a comprehensive manner. if we cannot deal with it for 10 years, deal with it for the remainder of this fiscal year, and that is what the house democratic alternative did. we would replace with the -- sequester with deficit reduction achieved over a longer time. >> watch the entire interview sunday at 10:00 a.m. eastern and again later at 6:00...
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Feb 6, 2013
02/13
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all of this goes back to republicans agreeing to raise the debt ceiling back in 2011. once again on january 1st, remember the whole fiscal cliff. now, these cuts were pushed off for another 06 days and here we are. the terms of the earlier deal, congress must now find $85 billion in deficit reduction somewhere by march 1st. otherwise, pentagon spending will shrink by 7.9%. medicare would take a 2% reduction. the president prefers an option that raises more money by closing tax loopholes. republicans want to stick with spending cuts saying they railroad agreed to tax hikes actually study by george mason university estimated 448,000 jobs in d.c., maryland and virginia would be affected by those budget cuts. the sequestration cuts are up popular with both parties. yet, there doesn't sound like there is much agreement yet on how to avoid them. >> deep, indiscriminate cuts to things like education and training, energy and national security will cost us jobs. it will slowdown our recovery. >> but the president's budget is late again. senate democrats haven't done a budge net
all of this goes back to republicans agreeing to raise the debt ceiling back in 2011. once again on january 1st, remember the whole fiscal cliff. now, these cuts were pushed off for another 06 days and here we are. the terms of the earlier deal, congress must now find $85 billion in deficit reduction somewhere by march 1st. otherwise, pentagon spending will shrink by 7.9%. medicare would take a 2% reduction. the president prefers an option that raises more money by closing tax loopholes....
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Feb 10, 2013
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as he did with the debt ceiling vote. as he did with the bill for hurricane sandy victims. as it came with the fiscal cliff agreement. i see that as a possibility with a gun control and immigration, because while republicans cannot be eager and willing to discuss the issues, pulling suggest that the house may have to pass something. i will meet democrats. host: -- they will need democrats. host: you say the election created a new deadline for the gop? guest: if they do not act on certain things, they may suffer bitter consequences at the polls, especially in those purple districts, areas where republicans are vulnerable. most of the congressional map has been drawn in favor of republicans and that served in congress. it has been difficult for house democrats to retake the house. history shows that in the final two years of an incumbent president's second term, it is impossible for his party to retake the majority in the house. but, they say, look, congress continues to behave as it did in the past two years, the public -- republicans will be blamed. when it comes to economi
as he did with the debt ceiling vote. as he did with the bill for hurricane sandy victims. as it came with the fiscal cliff agreement. i see that as a possibility with a gun control and immigration, because while republicans cannot be eager and willing to discuss the issues, pulling suggest that the house may have to pass something. i will meet democrats. host: -- they will need democrats. host: you say the election created a new deadline for the gop? guest: if they do not act on certain...
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of the white house in order to raise the debt ceiling in 2011. >> but they now say it was the president who is responsible. >> exactly. they voted for this. >> and paul ryan runs a marathon in less than one hour. >> i thought it was like 20 minutes. he's superman. this is what they wanted. >> of course. congressman, here is another apparent contradiction you might like to clear up for us. on the one hand, you have eric cantor out there giving a speech on making life work. he sounds like tony robbins or something. he's trying to sell yet another iteration of the republican party, but when you strip away the soft smile and the cadence, he'd happily slash every one of those programs that you just went through, wouldn't he? >> oh, absolutely. eric cantor despite all of the covering in the near is definitely proposing budgets that are hostile to middle and low income people. and particularly to vulnerable people, but not only that, you know, programs like s.n.a.p. actually give people money they can spend at the store that allows the store to hire people. eventually the programs they cut wil
of the white house in order to raise the debt ceiling in 2011. >> but they now say it was the president who is responsible. >> exactly. they voted for this. >> and paul ryan runs a marathon in less than one hour. >> i thought it was like 20 minutes. he's superman. this is what they wanted. >> of course. congressman, here is another apparent contradiction you might like to clear up for us. on the one hand, you have eric cantor out there giving a speech on making...
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Feb 4, 2013
02/13
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if republicans had gone into this issue and said they would not raise the debt ceiling unless they got cuts, there would have lost that the raid at the end. big loss that debate. john boehner and paul rand did a great job together. you cannot govern from that office, you but you have to be very careful about high-profile last-minute negotiations. i've worked in the white house and three administrations. the president has a tremendous institutional advantage in these kinds of fights. what republicans have to do is avoid these fights, the straps that they are laying. provide an alternative through passing legislation, just to show this is how they would govern if they had the powers of the presidency and the senate. and be careful. there are some rough edges. host: some are not strategy as far as moving the debt ceiling ahead. guest: if they had gone ahead with it, it would have been politically cataclysmic. it was the worst percival -- worst possible ground to make their point. president obama 1. i think it's absolutely crucial for the future of the country that you cannot govern from t
if republicans had gone into this issue and said they would not raise the debt ceiling unless they got cuts, there would have lost that the raid at the end. big loss that debate. john boehner and paul rand did a great job together. you cannot govern from that office, you but you have to be very careful about high-profile last-minute negotiations. i've worked in the white house and three administrations. the president has a tremendous institutional advantage in these kinds of fights. what...
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Feb 8, 2013
02/13
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i mean, the sequester, the debt ceiling, fiscal cliff, all these things are not so much real problems as they are manufactured partisan problems. but underneath them, you have this real problem which is basically the republicans won the debate on taxes, and the democrats have won the debate on the safety net. and as a result, that's sort of the deficit that we have. and the question is how can we solve it? and history suggests economic growth is the best way, but this deficit is also big enough in the long term that it's probably not going to be enough. and we need some combination of spending cuts and tax increases as well. >> yeah, how do we make that happen, sam? >> i was going to say, part of the problem is the tax revenue problem, which is that you don't have enough people making good incomes, paying good taxes, which is used to fund the social safety net that we value very highly. but it's also a health spending problem in that we spend a of d a lot of that's end of life health as well. one of the curious things about the health care debate when we're through, there's a huge bac
i mean, the sequester, the debt ceiling, fiscal cliff, all these things are not so much real problems as they are manufactured partisan problems. but underneath them, you have this real problem which is basically the republicans won the debate on taxes, and the democrats have won the debate on the safety net. and as a result, that's sort of the deficit that we have. and the question is how can we solve it? and history suggests economic growth is the best way, but this deficit is also big enough...
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Feb 6, 2013
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agreeing to raise the debt ceiling. they were once again pushed off for of -- 60 days as part of the fiscal cliff negotiations. the president believes he can buy more time and perhaps lawmakers will come to an agreement and so he is pushing for yet another short-term deal. but there are some republicans here on capitol hill that say maybe they are willing to let the sequestrations, these automatic cuts kick in because they believe there has been too much kicking the can down the road and they think this may be the only way to achieve true deficit reduction. duction. back to you guys. >> time is running out quickly. thank you. >>> d.c. mayor vincent gray focused on the successes of the city during his third annual state of the district address. last night's speech was held at the sixth and i historic synagogue in northwest. the mayor rolled off a number of achievements that he says prove the district is well on its way to being a big league world class city. he touted a drop in climb, unprecedented development and the cr
agreeing to raise the debt ceiling. they were once again pushed off for of -- 60 days as part of the fiscal cliff negotiations. the president believes he can buy more time and perhaps lawmakers will come to an agreement and so he is pushing for yet another short-term deal. but there are some republicans here on capitol hill that say maybe they are willing to let the sequestrations, these automatic cuts kick in because they believe there has been too much kicking the can down the road and they...
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Feb 5, 2013
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now on the horizon there are lots of house republicans, particularly younger ones, who say let's cut the defense budget, let those automatic spending cuts take place, and there are lots of senior republicans who say, not so fast. so that's going to be a problem within the republican party as we look ahead. >> where does karl rove and his new super pac fit into that? >> did you ever think republicans would call him a rhino, republican in name only. here you go. i've always thought of karl rove as a conservative. what's going on is his pac has said, you know what, we are tired of someone associated with his pac said to me, quote, the novelty of losing elections has worn off, and what they've decided to do is to start putting their money in primaries. they want to vet republican primary candidates so that by the time they get to the general election they believe they have qualified vetted candidates who can actually win. conservatives are saying, this is not what you should do. you need to let the process work itself out and american crossroads is saying, don't sacrifice ideological pur
now on the horizon there are lots of house republicans, particularly younger ones, who say let's cut the defense budget, let those automatic spending cuts take place, and there are lots of senior republicans who say, not so fast. so that's going to be a problem within the republican party as we look ahead. >> where does karl rove and his new super pac fit into that? >> did you ever think republicans would call him a rhino, republican in name only. here you go. i've always thought of...
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the last time the debt ceiling fight, president obama got what he wanted by refusing to negotiate. now the top republican up here on capitol hill john boehner is taking the hard line and letting the president know it. president obama was rallying democrats for the battle over defrs cuts when house republicans sent him a message. the symbolic vote he detail how he would cut the deficit to avoid the automatic spending cuts next month. >> mr. president, you missed the deadline again. let's see your plan. let's show it to the american people and have the discussion about the proper way to manage down this debt and deficit. >> reporter: without a budget deal on march 1st so-called sequestration will force reductions in military training, cutbacks in operations, and layoffs of civilian pentagon employees plus civilian defense contractors. >> it's an idiotic management nightmare to try to run a complex sophisticated, long-term program when you have short-term, massive cuts. >> reporter: deep cuts also loom in social services. outgoing defense secretary panetta slammed democrats and republ
the last time the debt ceiling fight, president obama got what he wanted by refusing to negotiate. now the top republican up here on capitol hill john boehner is taking the hard line and letting the president know it. president obama was rallying democrats for the battle over defrs cuts when house republicans sent him a message. the symbolic vote he detail how he would cut the deficit to avoid the automatic spending cuts next month. >> mr. president, you missed the deadline again. let's...
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Feb 7, 2013
02/13
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here is a chart of the spending cuts the democrats and republicans agreed to during the 2011 debt ceiling disaster, and it is $1.7 trillion in cuts. there is not a dime of new revenue there. here is the chart when you add the $737 billion in new revenue agreed to during the fiscal cliff deal. republicans are winning the battle, wouldn't you say, when it comes to balancing? over two-thirds of deficit reduction has come from cuts to domestic programs, and it's not exactly fair. but now the house progressive caucus has come out with what they call the balancing act. it's a common-sense plan to reduce the deficit by closing tax loopholes and cutting wasteful defense spending. here is the chart of the plan. there is $1.7 trillion in new revenue. the $1.7 trillion in spending cuts is still there. this looks like a much fairer chart than the current system, don't you think? and it's estimated to reduce the deficit by $3.3 trillion. remember, we're trying to hit $4 trillion. so we're getting closer. the plan ends tax loopholes for yachts and for jets. it reduces the corporate meal and entertainme
here is a chart of the spending cuts the democrats and republicans agreed to during the 2011 debt ceiling disaster, and it is $1.7 trillion in cuts. there is not a dime of new revenue there. here is the chart when you add the $737 billion in new revenue agreed to during the fiscal cliff deal. republicans are winning the battle, wouldn't you say, when it comes to balancing? over two-thirds of deficit reduction has come from cuts to domestic programs, and it's not exactly fair. but now the house...
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had to agree to raise the national debt ceiling. >> we got the debt limit out of the way so that we weren't jeopardizing the full faith and credit of the united states government. at some point, washington has to deal with its spending problem. i've watched them kick this can down the road for 22 years that i've been here. i've had enough of it. time to act. >> sreenivasan: at the white house, spokesman jay carney it's the republicans who are being irresponsible, by rejecting the president's appeal out of hand. >> he put forward a proposal for avoiding that outcome while congress continues working on longer term deficit reduction. that's the sensible thing to do. why make-- why punish the american people because you haven't been able to achieve your ideological objectives through other means? >> sreenivasan: in another development, the associated press reported the u.s. military is cutting back from two aircraft carriers to one, in the persian gulf. the report cited u.s. officials who said it's a direct response to the looming, across-the-board cuts. u.s. and british regulators have
had to agree to raise the national debt ceiling. >> we got the debt limit out of the way so that we weren't jeopardizing the full faith and credit of the united states government. at some point, washington has to deal with its spending problem. i've watched them kick this can down the road for 22 years that i've been here. i've had enough of it. time to act. >> sreenivasan: at the white house, spokesman jay carney it's the republicans who are being irresponsible, by rejecting the...
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Feb 9, 2013
02/13
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republicans have moved to the debt ceiling debate to may 18. you have all of these self- imposed economic wounds. we should be dealing with them all at once in a comprehensive manner. if we cannot deal with it for a 10 year period, deal with it for the remainder of the fiscal year. that is what the house democratic alternative did. we would replace the sequester with the hotel -- with deficit reduction achieved over a longer amount of time. host: ray locker is the national security editor with "usa today ." he is here to talk to us about the sequestration's affect on defense spending. what exactly is sequestration? guest: it means mandatory budget cuts. they were part of a 2011 deal that congress and the white house agreed to. they were worried about raising the national debt ceiling, which is $16.4 trillion. republicans hoped to try to force a general deduction of overall spending. it came down to this deal where it was they would do a supercommittee that would come up with a deal by the end of 2011. they did not. if they did not reach a deal
republicans have moved to the debt ceiling debate to may 18. you have all of these self- imposed economic wounds. we should be dealing with them all at once in a comprehensive manner. if we cannot deal with it for a 10 year period, deal with it for the remainder of the fiscal year. that is what the house democratic alternative did. we would replace the sequester with the hotel -- with deficit reduction achieved over a longer amount of time. host: ray locker is the national security editor with...
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Feb 12, 2013
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had to be dealt with and really is the debt ceiling. lou: no problem with that. >> if you listen to the now they're trying to switch to this message. the number two guy in the house gave a speech at the american institute. american enterprise institute clearly talking, stressing quality of life issues for middle-class families. listen to what he says. the republican response to the state of the union. he will be talking about that. they are trying to picture of some of these fiscal fights to a more quality of life america economic well-being argument. lou: i think the pivot will be looking for it. cannot wait for the reality. and thank you both. >> thank you. lou: president obama awarded the medal of honor to clinton from a share, a former active duty army staff sergeant who fought off a 2009 television attack in afghanistan. the 31 year-old rallied 53 of our troops who obama's says were outnumbered, outgunned, almost overrun. it was a date as long fire fight against 300 heavily armed taliban and insurgence. a combat outpost, and isolat
had to be dealt with and really is the debt ceiling. lou: no problem with that. >> if you listen to the now they're trying to switch to this message. the number two guy in the house gave a speech at the american institute. american enterprise institute clearly talking, stressing quality of life issues for middle-class families. listen to what he says. the republican response to the state of the union. he will be talking about that. they are trying to picture of some of these fiscal fights...
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Feb 8, 2013
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. >> fiscal cliff, the debt ceiling, immigration he said there's room but, look, republicans need to get religion on this. do you expect a similar tone in the state of the union? >> he has a limited amount of time. they feel they have a so-called m mandate from their victory not losing the senate. i think it's kind of full speed ahead for the president right now. he's going to go as bold as he can go, limited amount of time. i think i disagree a little bit on the economy. i think it's a course correction for him. i feel he's maybe second-guessing, not talking about the economy during his inaugural speech, now maybe i should have talked about that. >> which is fascinating because if you look at the first term in a lot of ways, you know, he started off -- you had a republican party that was largely kind of in the doldrums and he started off with economic stimulus and health care which united the party in some way. is he -- is he smart to refocus on the economy, jim? >> yes. >> and probably the more important question, is there actually -- we had angus king on saying there's common grou
. >> fiscal cliff, the debt ceiling, immigration he said there's room but, look, republicans need to get religion on this. do you expect a similar tone in the state of the union? >> he has a limited amount of time. they feel they have a so-called m mandate from their victory not losing the senate. i think it's kind of full speed ahead for the president right now. he's going to go as bold as he can go, limited amount of time. i think i disagree a little bit on the economy. i think...
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Feb 5, 2013
02/13
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where i think republicans thought especially since they put off the debt ceiling fight they'd be able to take control of this issue. >> let's play what mitch mcconnell said just yesterday slamming the democrats for floating new revenue proposals. >> this is just another opportunity to trot out the democrat focus group approved policy stunt. if this is another fake fight designed by the white house to push us to the brink, then republicans are really not interested in playing along. >> molly, another fake fight. as it was described by mitch mcconnell there. but we know when you look at polling and watched since the end of the year, the polls show it's republicans who come up short where people believe they're presenting the fake fight, at least some of the polling. >> well, it is interesting to hear mcconnell describe it as focus group approved. they believe public opinion on their side and if there is what is viewed as gridlock and dysfunction in washington, republicans are blamed by that. i think the white house concluded, looking back on the last four years, that every time republic
where i think republicans thought especially since they put off the debt ceiling fight they'd be able to take control of this issue. >> let's play what mitch mcconnell said just yesterday slamming the democrats for floating new revenue proposals. >> this is just another opportunity to trot out the democrat focus group approved policy stunt. if this is another fake fight designed by the white house to push us to the brink, then republicans are really not interested in playing along....
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had to agree to raise the national debt ceiling. >> we got the debt limit out of the way so that we weren't jeopardizing the full faith and credit of the united states government. at some point, washington has to deal with its spending problem. i've watched them kick this can down the road for 22 years that i've been here. i've had enough of it. time to act. >> sreenivasan: at the white house, spokesman jay carney it's the republicans who are being irresponsible, by rejecting the president's appeal out of hand. >> he put forward a proposal for avoiding that outcome while congress continues working on longer term deficit reduction. that's the sensible thing to do. why make-- why punish the american people because you haven't been able to achieve your ideological objectives through other means? >> sreenivasan: in another development, the associated press reported the u.s. military is cutting back from two aircraft carriers to one, in the persian gulf. the report cited u.s. officials who said it's a direct response to the looming, across-the-board cuts. u.s. and british regulators have
had to agree to raise the national debt ceiling. >> we got the debt limit out of the way so that we weren't jeopardizing the full faith and credit of the united states government. at some point, washington has to deal with its spending problem. i've watched them kick this can down the road for 22 years that i've been here. i've had enough of it. time to act. >> sreenivasan: at the white house, spokesman jay carney it's the republicans who are being irresponsible, by rejecting the...
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Feb 5, 2013
02/13
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obama suggested it in negotiations in the debt ceiling in 2011 but now he doesn't want any domestic cuts. he's not somebody who wants cuts anywhere, anytime and this will be forced on him and on the pentagon cuts which he thought the republicans would avoid. he's the commander in chief. he has to worry about the forces, his own secretary of defense said we'll hollow out the forces and it will cost a lot of jobs of contractors, a lot of whom live in a state he wants, virginia. so he has to do something about this and it's unbelievable he would have offered the republicans a deal in which there are extra tax increases. republicans will do nothing and they should do nothing and demand if the president wants to avoid this, you do the cuts but do them somewhere else but no tax increases. >> charles lam, twice republicans have caved in to the demands of the white house and other democrats. do you think they'll do that again or will they do nothing? >> i prefer not to think of it as caving in. perhaps there's time for everyone to get reasonable. i agree with charles that the president's probabl
obama suggested it in negotiations in the debt ceiling in 2011 but now he doesn't want any domestic cuts. he's not somebody who wants cuts anywhere, anytime and this will be forced on him and on the pentagon cuts which he thought the republicans would avoid. he's the commander in chief. he has to worry about the forces, his own secretary of defense said we'll hollow out the forces and it will cost a lot of jobs of contractors, a lot of whom live in a state he wants, virginia. so he has to do...
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Feb 12, 2013
02/13
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in the last couple of months, we have seen them back away on debt ceiling. you postponed that. where do you go? it appears that president obama has the upper hand. seems like republicans are moving in the direction of the path of citizenship. that's around if your district. what specifically are you united behind that differentiates you from the president and can get past both through the republican house which i'm sure you can do, but through the senate and signed by the president of the united states? >> the number one priority is the budget. if i that r they don't pass a budget, they won't be paid. the house laid out a plan to balance the budget which we will do in the next years am i wish the white house would put the same pressure behind the senate democrats. they haven't been introduced yet and the ceo will be at the state of the union. this is the first and foremost thing we can do is get a budget passed. the republicans are strong and that sets a plan to put us on a path to agreeing this economy. >> the economy is the largest issue that the american public cares the mos
in the last couple of months, we have seen them back away on debt ceiling. you postponed that. where do you go? it appears that president obama has the upper hand. seems like republicans are moving in the direction of the path of citizenship. that's around if your district. what specifically are you united behind that differentiates you from the president and can get past both through the republican house which i'm sure you can do, but through the senate and signed by the president of the...